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8/16/2013 10:47AM

Jaffe: Lessons in Investing From Your Smartphone

Chuck Jaffe's short time with a smartphone has made it obvious to him that the increase in personal productivity that someone can get by being able to handle chores like bill-paying and more by phone is impressive. But, constant access to one’s finances tends to turn running money into an obsession. Photo: Getty Images.

This transcript has been automatically generated and may not be 100% accurate.

... ay ay mm mm ... mobile apps are ... a growing industry ... but ... when it comes to personal finance should investors trust smartphone apps when trying to manage their portfolios ... the answer isn't so clear cut ... MarketWatch's Chuck Jaffe who just recently joined the twenty first century by getting a smartphone in his own ... joins MoneyBeat ... so Chuck ... you just got a smartphone be like being fashionably late to these parties ... well you know truthfully ... I didn't really need one I mean ... I'm the guy who would ever call my my voicemail ... it tells you how this is chock come at home right now to leave a message here I'll call you again the next time I'm out ... so it wasn't that I necessarily wanted to be left behind it was just kind of I'm cheap ... I didn't read really need it but ... I made a trip to the Ukraine a couple weeks ago when my kids prevailed on me I needed a smartphone and ... right now I'd like to say it's got my column on MarketWatch that ... and that's fine but the fact is I've been exploring assets ordered in waiting to do this and ... I've been looking at apps for a long time but never had the technology the use of myself ... and that was a good thing because the more I look at and the more disgusted I get ... while so so why is that ... well ... this is great to have more information at your fingertips ... but that is that the human brain is basically wired a sort of trying to decide how you can act on things in it all you can to me that ... if the market were to lose a lot ... of ground today and you're watching your network minute by minute and there's an app for that ... or you're watching your portfolio second by second and there's a million apps for that ... you're going to wind up in a situation where some point ... you gotta do something ... the perfectly on ... if you're an investor alive today ... the worst single day you ever lived through was Black Monday in nineteen eighty seven a year older now ... and ... you couldn't make moves that day for the most part because the technology would allow it and thank goodness that was the case ... as you would have bailed out in the morning ... lot in the big loss and you would in our ... when the market was quickly rebounding and ... truthfully the more you act as a general rule the worse you do say that is one problem ... then there's the eye because ... of this ... he also mentioned that the melodies who will glass animation Ascott nineteen in a company's up a little bit about that as well ... well ... basically I think a heads up display so imagine ... the Google Glass is basically something that ... looks sorta like this but it has a display that would ... send the Corker going on in it allowing a walk around all day and said it hadn't By MarketWatch happier if there's ever a MarketWatch Google Glassthat would be up ... in the core of my ... and that allows you to be seeing things the early without taking your eyes off of the rest of what you're doing a mean it's like a fighter pilot write a fighter pilot doesn't take a size up to look down at the gauges he's got all this will aid ... her in the side in the peripheral vision ... you know ... it's a great concept ... but again ... what we're talking about is that when you're with this and you decide you can make a trade ... you're going up that you're truly trying to make a timely trade ... going up against guys that have ... for twenty seven inch monitors and twelve ... bytes of memory ... and they're watching this stuff a lot faster ... not with me get Englander telephone there waiting for somebody like you to basically make them good in their tray ... and and you'll recognizes a day trader from the mindset ... that you have this and that means ... you're taken a knife to a gunfight ... the worst part is that ... your technologically behind those guys you're competing with ... is that you think your technologically ahead of those nights ... are a sexy you are go back to the olden days that that's the takeaway here ... I just want people to understand that you know it's great and like if you ... are about to Mr. payments in year to be able to make your payments while your ... ride the train to work or something like that that's awesome ... but for most people the less you do with your finances the better off you walk ... and too much information ... you see too many reasons to break your discipline ... that's gonna hurt you more than help you in the long run ... writing wise words from Chuck Jaffe thank you very much sir ... you bet CNX ...